News Corp is reported to have partnered with Softbank to launch a version of Myspace in Japan. According to a report in the Nihon Keizai newspaper, the site would offer mobile posting as well as web-based services. The report also said News Corp and Softbank would each invest £4.47m.
After a speech in Tokyo, Rupert Murdoch said News Corp is still in talks with Masayoshi Son, the Softbank founder & CEO but said a Japanese MySpace was "certainly a possibility".
Around 7.16 million Japanese are members of social networking sites which include services run by Gree, Yahoo Japan and the most popular site Mixi, which has built more than five million members since it launched in 2004.